The Economic and Financial Crimes Commission (EFCC) has attributed the visa restrictions and denials being experienced by law-abiding Nigerians to the activities of internet fraudsters, popularly referred to as Yahoo Boys.
According to a post on Tuesday via the EFCC 𝕏 account, the Chairman of the commission, Ola Olukoyede, made the lamentation when he called on youths in the South-South region to resist the lure of internet fraud and other financial crimes, describing fraud as a deadly trap that destroys lives and future.
Naijaonpoint reports that he gave the charge in Port Harcourt, Rivers State on Monday, September 15, 2025 at an event organized by the Coalition of Nigerian Youth on Security and Safety Affairs (CONYSSA).
Speaking on the theme, “Uniting South-South Youths in the Fight Against Cultism, Pipeline Vandalism, Internet Fraud, Money Laundering, Drug Abuse, Human Trafficking and Economic Sabotage,” Olukoyede , who spoke through Head, Advance Fee Fraud Section, Port Harcourt Zonal Directorate of the EFCC, Chief Superintendent of the EFCC, Coker Oyegunle, warned that while fraud may appear to offer “easy money,” it ultimately leads to shame, imprisonment, and lost opportunities.
“Fraud is not success; it is a trap. Easy come, easy go. Many who follow the path of ‘yahoo-yahoo’ always end up losing their freedom, reputation, and future. The law is catching up with them and digital footprints never disappear. Don’t destroy your tomorrow with shortcuts today,” he said.
The EFCC boss highlighted that apart from damaging Nigeria’s reputation, internet fraud is an economic sabotage which costs the country billions of naira annually.
“The EFCC boss highlighted that internet fraud, money laundering, and economic sabotage cost Nigeria billions of naira annually, undermining national growth and depriving citizens of infrastructure, jobs, and opportunities. Beyond the economic damage, he pointed out that the crimes erode Nigeria’s international image and subject innocent Nigerians to stricter visa restrictions abroad,” the statement added.
He urged youths in the country to focus on the creative development of their minds.
“Youths are the engine of our nation. If you choose fraud, you are choosing to destroy your tomorrow. But if you choose creativity, innovation and honesty, you are building a Nigeria that will compete with the best in the world,” he said.
The EFCC boss, however, reaffirmed the commission’s commitment to intensifying sensitisation campaigns, enforcement efforts, and collaboration with local communities to curb cybercrime and related offences.